LONDON (SHARECAST) - (ShareCast News) - London's FTSE 100 was up 0.7% to 7,371.87 in afternoon trade as well-received results from BHP and Antofagasta helped to offset shocking losses for Provident Financial after a profit warning.BHP Billiton was the standout gainer as it said that rising commodity prices drove a more than fourfold jump in its full-year attributable profits and second-strongest level of free cash flows ever.

The miner also announced that it was putting its US onshore oil assets on the block and deferring plans to move forward in potash.

Tesco also racked up healthy gains as the latest data from Kantar Worldpanel showed it was way ahead in terms of market share at 27.8%, although this was down a touch from 28.1% a year ago.

Chilean copper miner Antofagasta rose after it posted a jump in earnings for the first half as revenues rose amid higher copper prices. In the six months to the end of June, earnings before interest, tax, depreciation and amortisation were up 88% to $1.08bn as revenue climbed 42% to $2.05bn. Realised copper prices rose 25%, while sales volumes were up 14%.

On the downside, subprime lender Provident Financial tumbled as it issued its second profit warning in two months and announced the resignation of its chief executive and the withdrawal of its dividend as the rate of progress in the turnaround of the home credit business has been "too weak".

InterContinental Hotels was under the cosh as Redburn downgraded the stock to 'sell' versus 'neutral', while Sainsbury's slipped as the Kantar data showed it saw a 2% sales boost but its market share shrank.